Rio Tinto reportedly prepares to open lithium mine near Serbian Loznica

The government and the global mining group Rio Tinto have set up a working group that should speed up preparations for opening of a lithium mine near the town of Loznica in the Jadar basin, the daily Blic reported. The company has committed to invest EUR90m in addition to EUR50m it has spent on geological exploration so far. The daily wrote that investments could increase to hundreds of millions of euros with the expansion of the mine. Jadar mineral resources are estimated at 136 million tons. Rio Tinto says that if developed, the Jadar deposit, which contains the unique mineral jadarite, could meet 10% of global demand for lithium. Production is expected to start in 2023 provided that feasibility studies confirm viability and all necessary approvals are obtained.

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